Apple's revenue decline – $90.75 billion in revenue in the last quarter – E24

Apple delivered better than expected numbers. The stock rises in after-market trading.

Bloomberg wrote before the numbers were published that expectations for the outcome were low.

Apple has had a different fiscal year and is now reporting Q2 numbers.

In the first quarter, the company increased its income, after four consecutive quarters with declining sales. However, sales are now expected to decline by about 5 percent compared to the same quarter last year.

This shows the numbers for the last quarter:

• Revenues were $90.75 billion, compared to $90.3 billion expected according to Bloomberg estimates. At the same time last year, Apple had revenues of $94.8 billion. Therefore, the decrease on a quarterly basis is 4 percent.
• Earnings per share (EPS) $1.53 versus $1.5 expected.

Apple shares rose before the numbers were released and were up 7.5 percent at 11pm in after-hours trading on Wall Street.

But so far this year, the share is down 12 percent. Apple's share, along with Tesla's share, are the only two companies of “Seven greatsSeven greatsA term that plays into the movie of the same name, which includes the seven stocks Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla. These prices have risen sharply in the past year and accounted for large parts of the rise in the US market.“It is in the red in 2024,” he writes The Wall Street Journal.

Record the buyback amount

At the same time as the quarterly numbers, Apple announced its largest buyback program ever CNBC.

The board approved the company spending $110 billion on stock buybacks, an increase of 22 percent from last year's $90 billion.

Apple's board of directors also approved a dividend of $0.25 per share, according to a press release from the company.

Apple CEO Tim Cook is expected to deliver long-awaited news about the company's artificial intelligence strategy during its annual Worldwide Developers Conference in June, Bloomberg reports.

China's recovery, according to Cook

Sales in China have been challenged for some time, with increasing competition from Huawei and challenges due to the strong dollar exchange rate. In the first quarter, sales in the region fell by 13 percent.

In the second quarter, the result was an 8 percent decline in trading volume in China, to $17.8 billion, he writes. CNBC.

Regarding China, Cook told the news channel the following:

-I have a good feeling.

Cook also says iPhone sales increased in China during the quarter.

– It may be a surprise to some.

Revenues in the Chinese market accounted for nearly 19 percent of Apple's revenues last year, according to Bloomberg.